The Wall Street Journal

Credit Unions Facing Up to Mortgage Crunch? 

The derailing of the mortgage industry’s secondary markets is hitting everywhere — including some of the nation’s largest credit unions, according to a published report Monday morning, which said that reported losses at the nation’s five largest credit unions now total some $5.7 billion. That total may be even higher than reported, as well, given allegations that the credit unions facing the largest losses are playing a shell game with their accounting efforts.